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Budgeted Income Statement Pending Company, a merchandising company, is developing its master budget for 2015. The income statement for 2014 is as follows: Selling prices will increase by 6 percent, and sales volume will increase by 4 percent. The cost of merchandise will increase by 3 percent. All operating expenses are fixed and are paid in the month incurred. Price increases for operating expenses will be 10 percent. The company uses straight-line depreciation. The estimated uncollectible are 2 percent of budgeted sales. Required Prepare a budgeted functional income statement for 2015